Car Dealerships to Promote Latest Car Tech to Encourage Higher Spending
“In-vehicle technology has significantly increased in importance to vehicle shoppers over the last four years. In fact, vehicle tech now ranks ahead of exterior styling when it comes to deciding which car to buy. The Cox Automotive Vehicle Tech Features Study can help OEMs and dealers more effectively target in-market shoppers, close more sales and upsell tech features to new and existing customers.”
“This study surveyed 2,554 geographically dispersed KBB.com visitors to measure the consumer’s awareness and preferences for automotive technology features currently available. While KBB.com visitors are of all ages and ethnicities, 47% of those surveyed for this study were ages 51-69, 83% were male, 82% were Caucasian and most tended to be somewhat more affluent and educated than the general U.S. population.”
To stay ahead of the game, Techies constantly need to be kept up-to-date on the latest technology trends. So, it’s not surprising that, within the last month, 84.8% of Techies have used a search engine to research a product or service they were considering for purchase, according to AudienceSCAN. They were most likely using Google, the preferred search engine of 93% of these consumers. However, only 20% will go past the first page of results.
“The data shows, for example, that in addition to popular Safety Tech features, OEMs and dealers should prominently promote Driver Aid & Connectivity Tech (e.g., navigation, Bluetooth, etc.) because consumers feel a strong need to stay connected and desire access to music and apps on their smartphones. The study also illustrates that consumers are willing to spend more on Safety Tech features with autonomous functionality, such as collision avoidance and warning systems, gives OEMs and dealers insight into which tech features are most valued by specific demographics, and provides best practices for leveraging vehicle tech as a marketing and sales tool.”
“Key Takeaways from 2018 Vehicle Tech Study
- Safety Tech features are highly popular, ranking in the top three in both the Top 10 Most Familiar and Must-Have lists. However, Driver Aid & Connectivity Tech (e.g., navigation, Bluetooth, etc.) features are also prominent because consumers feel a strong need to stay connected and desire access to music and apps on their smartphones. OEMs and dealers should prominently promote these features.
- Consumers are willing to spend more on Safety Tech features with autonomous functionality, such as collision avoidance and warning systems.
- While most consumers would prefer to learn about tech features on their own, it is still critical to have product specialists in the showroom who can illustrate the operation and usefulness of tech features.
- Although most consumers plan to research the latest technology before shopping, 44% still don’t know what features they want when they take a test drive and a third of consumers say they’d walk away from a purchase if the vehicle’s in-car technology seemed too difficult to use during the test drive. Therefore, it is critical that salespeople can explain the latest tech features and demonstrate their ease-of-use.
- Since 31% of millennials and 61% of older generations say that the test drive doesn’t offer enough time to master vehicle tech,6 OEMs and dealers should consider offering additional learning sessions to consumers who want extra guidance. This additional support system can motivate hesitant consumers to invest in a more sophisticated vehicle.
- 53% of consumers would like to see innovations in safety tech in the next 3-5 years, so OEMs should strive to create awareness of ongoing new developments in vehicle safety technology”
Techies can be shown the technological advantages to buying new car models through a number of advertising options. Within the last year, according to AudienceSCAN, 76.4% of Techies took action after seeing a TV commercial and 65.3% reacted to direct mail ads. Within that same amount of time, 64.5% were driven to action by email ads and 55.7% were inspired by ads they received via text or advertisements they saw on their mobile apps. They’re also 45% more likely than other adults to click on text link ads on websites.
Car Dealerships to Promote Latest Car Tech to Encourage Higher SpendingAudienceSCAN data is available for your applications and dashboards through the SalesFuel API. Media companies and agencies can access AudienceSCAN data through the AudienceSCAN Reports in AdMall.